AMD relief rally to retest $209-$211 range. we’ll probably see prices below $190 next week when traders cash in profits before the next dip. not financial advice
AMD The hardest part of trading is admitting you're wrong. I was so certain that yesterday we were going to close that gap to 170. I had tried shorting it 2 times before over the last couple months, small losses each time as it rejected in the mid 190s.
Yesterday looked different. Tech sector down hard. Semis down harder. Metals down. Energy Down. Whole market down. Signs of the AI trade ending. I entered a short (ATM puts) around low of day after it broke below the 200 Daily EMA, with all supporting evidence listed above.
Then NQ futures decided to rip overnight, followed by a strong +6% move in the opening hour. I was stressing all night, barely slept. Figured we'd see a bull trap and reversal open NY open....but nope.
Got wrecked, closed out the position for a 65% loss. Small position so it's not the end of the world, but today I'm for sure feeling humbled by the moves in the market, and can't explain why we're seeing what we're seeing.
Good luck all, be careful out there. Huge swings are happening both directions all across the board. Book profits as soon as you see them, and have a good weekend.